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Stay Wealthy Retirement Podcast

The Seven Deadly Sins of Investing

Stay Wealthy Retirement Podcast

Taylor Schulte, CFP®

Financialplanning, Retirement, Money, Taxplanning, Stocks, Wealth, Business, Investing, Retirementplanning

2.4606 Ratings

🗓️ 4 August 2020

⏱️ 25 minutes

🧾️ Download transcript

Summary

Today is Jeremy Schneider's last episode as guest host before Taylor returns. 

He reveals the seven deadly sins of investing, including the most deadly...number seven!

Jeremy dives deep into which factors can predict future investment performance and compares two similar investors...one who ends up with $1.2M and the other with less than $7,000!

Transcript

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0:00.0

All these things are basically designed to prey on the excitement of hitting it big.

0:05.1

But the problem is it just doesn't work.

0:08.3

Sometimes you get lucky over a very short period of time.

0:11.1

But if you try to build wealth doing this way, it will eventually erode your wealth.

0:17.8

Welcome to the Stay Wealthy podcast with Taylor Schulte.

0:21.1

This is not Taylor Schulte, as you may have noticed.

0:23.9

My name is Jeremy Schneider.

0:25.5

This is my fifth of five episodes that I am filling in for Taylor.

0:29.0

I have been saying that Taylor would be back at the beginning of August.

0:31.7

But right before we recorded this episode, Taylor and I looked at a calendar and noticed that

0:36.6

there are, well,

0:37.7

there are five weeks in July. Only four of those happened to fall on a Tuesday when he

0:42.0

normally rid at least as the podcast episode. So we decide to let my fifth episode bleed over into

0:47.4

August, pushing him back one week further. Sorry, I apologize about that, but I'm really excited

0:53.2

about this episode.

0:57.1

I hope that you like it and hope that it finds, you hope, find value.

0:59.4

So Taylor will be back next week.

1:01.0

This is my last episode.

1:07.5

You can find notes, articles for this episode at you staywealthy.com slash 79. So this week, I want to talk about my seven sins of investing.

1:16.8

I want to look at all the wrong ways to invest.

1:19.4

I talk a lot about the right ways to invest, but I see these seven common mistakes that can cost

1:25.0

you a lot of money.

...

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